Convergence Financial, LLC (Columbia)

Name: Convergence Financial, LLC
Address: 200 East Southampton Drive, Columbia, MO, 65203
Telephone: (573) 818-2264

Convergence Financial, LLC is a large advisory firm based in Columbia. It manages $103.75 million of regulatory assets for 951 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Minnesota and Missouri.

Convergence Financial provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Convergence Financial: assets under management

The assets under management (AUM) of Convergence Financial, LLC is $103.75 million, all of which is managed in discretionary accounts. The company doesn't manage any assets belonging to foreign clients.

The firm manages $103.75 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $109.1 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio. Investments in investment grade corporate bonds form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Convergence Financial, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Convergence Financial serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Convergence Financial is individuals with 465 clients and $87.15 million of assets under management. Among the 11 most similar advisory firms, Convergence Financial has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $102.15 million for 485 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Convergence Financial doesn't advise any private funds.

Careers at Convergence Financial, LLC

The company employs 9 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Travis Earl Cook	President and member	1 Apr 2019	75% - 100%	5222336
Richard Gromis	Chief compliance officer	1 Apr 2019	Other	6121219
Llc Glhc	Member	1 Apr 2019	Other	83-2697217
William Brian Costello	Member	1 Apr 2019	Other	7089181

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Conor Francis Delaney	Member	1 Apr 2019	50% - 75%	5193222
Courtnie Elizabeth Nein	Member	1 Apr 2019	25% - 50%	5427850

Based in Columbia

The principal office where Convergence Financial, LLC performs its advisory services is located at 200 East Southampton Drive, Columbia, MO 65203, which is also the mailing address of the firm. An additional office of the firm is in Fayette, MO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (573) 818-2264 or by fax (573) 826-4488. The normal business hours are 8-5 on Monday - Friday. You can find more information about the New York firm at convergence-financial.com/.